Did you know you might have to pay taxes on your assets when you die? Yes, it’s true, like on assets you’ve already paid taxes on.
There are two tax systems in the United States:
1. The Income tax system – The one that everyone knows about. You make income from work or from an investment or from a pension or from wherever, you pay taxes on that income.
2. The estate tax system (death tax) - This is the one that people kind of know exists, but don't like to think about. Honestly, why would you want to... death and taxes? We can all unite in our desire to avoid these two things.
Here’s a video that won't help you avoid death, but it might help you avoid death taxes... and that would be a good thing.
LINKS
- Learn more about Dallin https://dallincutler.com/
- Subscribe to the channel www.youtube.com/@insightwdallincutler
SOURCES
- Federal Estate Tax Exemption: https://www.irs.gov/businesses/small-...
- Estate Tax Exemption Sunsets End of 2025: https://www.irs.gov/newsroom/estate-a...
DISCLOSURES
- $3mm growth scenario:
eMoney Advisor, LLC: https://emoneyadvisor.com/
$3mm in taxable brokerage account
Rate of return assumption is 7.86%
No additional money saved into account
Fake person retires in 2045 and begins pulling $150,000 from portfolio (adjusted for inflation)
- Dallin works for EP Wealth Advisors
EP Wealth Advisors, LLC (“EP Wealth”) is a leading independent
registered investment adviser (“RIA”) on a mission to provide clients with honest and objective advice through personalized financial planning, customized investment portfolios, and integrated tax and estate planning.